Exam 8: The Marketing Plan

Which survey method is the most expensive?

Telephone surveys have the poorest response rate.

The _________ element of the marketing mix involves decisions as to what is the most appropriate channel.

The simplest approach to gathering primary information is:

Market conditions,product attributes,cost benefits and venture attributes are all part of which major consideration in channel selection?

In business-to-business which advertising and promotion method would be the least likely to be used?

The marketing plan is designed to answer three basic questions: where have we been,where do we want to go,and how do we get there?

The final price of a product or service is the sum of total cost plus profit margin.

Competitor analysis begins with:

When products cannot be easily differentiated,the entrepreneur is forced to charge a lower price than the competition.

The marketing mix consists of the following variables: external environmental factors,internal environmental factors,and marketing strategy.

Manufacturer's representatives are marketing middlemen that:

Marketing research involves the gathering of information in order to determine who will buy the product and what the most effective promotion strategy would be.

Market segmentation is the process of:

Which survey method results in the most in-depth information and the best response rate?

The major interacting components that enable a firm to successfully provide products to the marketplace are called the:

Business-to-business marketing involves:

Focus groups are an informal method for gathering in-depth marketing information.

Which is the first step in preparing a marketing plan?

It is harder to charge a high price if the company operates in a differentiated product market.